Common use of Compensation and Expenses; Covenant Clause in Contracts

Compensation and Expenses; Covenant. (a) In return for the Services, the Administrator shall earn administration fees and expense reimbursements in the form of Class A shares of the Issuer equal to 1.5% of the total Class A shares outstanding per annum, issued on a quarterly basis in arrears, commencing on the date of the final closing of the Offering. For the avoidance of doubt, no fees or expense reimbursements in the form of Class A shares shall be earned for any period prior to the final closing of the Offering.